GERMAN FINANCE

Hokitika Guardian, 22 January 1929, Page 1

GERMAN FINANCE

♦ ] (United Press Association—By Electric * Telegraph—Copyright). (Received this day at 8 a.in.) LONDON, January 21. The “ Times ” correspondent at Herlin states Hilferdings budget proposals show an expenditure of £-195,000,0Ck), an increase of £17,000,000 and a deficit of £31,000,000.' The naval estimates include £050,000, the second instalment of the construction armament of ten thousand ton cruiser, £315,000 'for completion of one small cruisei;. £300,000 for third instalment of second ditto, £IBO,OOO for completion of six torpedo boats, £530,000 for overhauling 1 and modernising re-armament of predreadnought Hahover. The deficit will be met bv increased taxation of beei, spirits, death duties, and property tax, but it is already meeting criticism, and 1 it is unlikely to secure a majorty in I the Reichstag. Consequently it is ex- ' pected some will bo dropped and it- 1 placed hy an increased turn-ovei tax. I The beer tax caused consternation in ' Bavaria, which also resents the proposal to appropriate £21.000,000 ‘from 1 revenues shared with states. The Bavarian Peoples Party declares the ' proposals will end the coalition. -